11 Cops and Ex-Politician Jailed for Life in Bitcoin Kidnapping

The case centered on businessman Shailesh Bhatt, who was abducted at a gas station in Gujarat by men posing as federal agents. He was taken to a farmhouse, held at gunpoint, and forced to hand over part of his Bitcoin holdings.

The kidnappers initially demanded 176 BTC and ₹32 crore in cash (roughly $3.6 million), but after negotiations, Bhatt surrendered proceeds from 34 BTC, worth around $150,000 at the time.

The elaborate plot unraveled after the ransom delivery failed and investigators uncovered direct involvement of senior law enforcement. The convicted officers, led by a former district police superintendent, were found guilty not only of kidnapping and extortion, but also of abusing their official authority. Former Gujarat legislator Nalin Kotadiya, who evaded arrest for months before his 2018 capture, was also among those sentenced.

The trial became one of India’s most closely watched crypto-linked criminal cases, with 172 witnesses called to testify — though nearly half later turned hostile. The judge issued perjury notices against 25 of them, citing concerns of intimidation and interference.

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Ironically, Bhatt himself has since faced charges of kidnapping and extortion in a separate case involving BitConnect promoters, with Indian authorities alleging he attempted to claw back losses from the infamous Ponzi scheme by seizing their crypto assets. His own trial remains ongoing.

The sentencing in Ahmedabad underscores how cryptocurrency’s rise in India has not only attracted investors and innovators but also corruption, fraud, and violent crime at the highest levels of power.

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